November 12, 2009
You might be surprised by what McCafe's influence has been.
Starbucks Corp (SBUX.O) Chief Executive Howard Schultz said McDonald's Corp's (MCD.N) McCafe launch earlier this year made the cafe chain better.
The CEO said the McDonald's McCafe advertising blitz prompted many coffee drinkers to compare products from the two companies. He said that benefited Starbucks.
Schultz retook the helm at Starbucks in early 2008 and began a restructuring that has involved shuttering roughly 900 stores, slashing other costs and eliminating waste.